Investigate huge remittance outflow to India

[acid rain]

So, Richi Rich Indians are illegally infiltrating and pole vaulting in to Bangladesh for better life and economic opportunities?. Bangladesh should take serious steps to solve this Mexican like situation.

You have your afghani, we have our bangladeshi illegals - they have crept into every corner including far off places like bangalore and kerala..Please let us know how to get rid of them when you devise a method.

 

[Roybot]

Now indians have TWO more reasons to be proud of -

1) being illegal pole vaulters in Bangladesh
2) inventing a shameless way to do looting, begging and chest thumping, all at the same time.

The Centre for Policy Dialogue yesterday recommended the government should form a committee to investigate the large remittance outflows to India.

Bangladesh is now the fifth largest remittance source for India, with around $3.7 billion sent in 2013.

The number is expected to only increase in the coming years, according to Silicon India, a portal for professionals.

“This is a warning signal,” Mustafizur Rahman, executive director of CPD, said, adding that both the Board of Investment and Bangladesh Bank may want to investigate how such huge sums are flowing out of the country and into India.

The government should initiate necessary steps to curb reverse remittance flow, deal with the issue of illegal migrants and develop skilled human resources for substitution, the local think-tank said in its report on the economy's performance so far in fiscal 2014-15.

At present, there are hundreds of thousands of Indian nationals working in the country, as per Silicon India.

Most of them work in readymade garment and textile industries and non-governmental organisations, often without proper permissions and documentations.

Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, tipped the remittance by the industry's Indian and Sri Lankan experts and technicians to cross the $4 billion-mark soon.

The total number of foreign technicians in the garment sector now stands at upwards of 19,000, the majority of whom are Indian, he said.

“Our universities should introduce different technical subjects for producing skilled manpower for the garment and textile sectors,” Islam added.

Investigate huge remittance outflow to India | CPD urges govt

Same old bs being rehashed and propagated again and again. I have debunked this before and am quoting my post again here.

The remittance to India from Bangladesh, the numbers don't add up. If there are 500,000 Indian workers in Bangladesh and they are remitting $3716 Million in a year, thats around $7500 per person per annum remittance. If each Indian labour is sending that kind of money back home, they must be making atleast $10,000 as opposed to $1050 per capita gdp of Bangladesh. Geez I wonder whats so special about these unskilled Indian labourers that they are being paid 10 times more than an average Bangladeshi.

It looks like a lot of Bangladeshi black money is coming to India in the name of "Remittance". I guess the Bangladeshis are taking their money to a "safer" location. Good for us.

An investigation into this by Bangladesh Tax office is definitely required, but as I said it has very little to do with Indians working in Bangladesh and more to do with Bangladeshi black money.

Refer to this thread for more entertainment

Indian expats remit $3,716m from Bangladesh

 

[Sliver]

Even more indian propaganda based on "I heard" spin. Indian and investment in oxymoronic terms. Indian investment in Bangladesh is insignificant but indian looting and and money laundering by illegal indian pole vaulters are SIGNIFICANT enough that it is second biggest source of earnings. Awami League subservient regime will not take steps but people should start searching and kicking these indians out.

please give the official figures. else they are just allegations and opinions.

 

[ranjeet]

It's a payment by Vassal State, I thought it was an open secret here on PDF

 

[idune]

Same old bs being rehashed and propagated again and again. I have debunked this before and am quoting my post again here.

The remittance to India from Bangladesh, the numbers don't add up. If there are 500,000 Indian workers in Bangladesh and they are remitting $3716 Million in a year, thats around $7500 per person per annum remittance.
Indian expats remit $3,716m from Bangladesh

Indians like royfot (aka fotka roy) debunks somethings is down right amusing. Indians make up the the figure 500,000 illegals indians when actual figure is over 10 million illegal indian pole vaulters looting from Bangladesh.indians looting $4 billion from Bangladesh is just an estimate, actual figure goes much higher. indians can not absorb their latest status as pole vaulters, looters and beggars. Maybe Bangladesh should deploy same practice as indian bsf, shoot indians at sight.

 

[BanglaBhoot]

Same old bs being rehashed and propagated again and again. I have debunked this before and am quoting my post again here.

The remittance to India from Bangladesh, the numbers don't add up. If there are 500,000 Indian workers in Bangladesh and they are remitting $3716 Million in a year, thats around $7500 per person per annum remittance. If each Indian labour is sending that kind of money back home, they must be making atleast $10,000 as opposed to $1050 per capita gdp of Bangladesh. Geez I wonder whats so special about these unskilled Indian labourers that they are being paid 10 times more than an average Bangladeshi.

It looks like a lot of Bangladeshi black money is coming to India in the name of "Remittance". I guess the Bangladeshis are taking their money to a "safer" location. Good for us.

An investigation into this by Bangladesh Tax office is definitely required, but as I said it has very little to do with Indians working in Bangladesh and more to do with Bangladeshi black money.

Refer to this thread for more entertainment

Indian expats remit $3,716m from Bangladesh

The simple explaination is that there are more than 500 000 illegal Indians in Bangladesh.

 

[tahsin]

Most of the money sent over to accounts in India would be people in the current Hasina government, and others loyal to her. This is what I like about us Sylheties, we despise India with a passion which doesn't seem to be the case with those in Dhaka. We should never have anything to do with India.

 

[Bacon101]

i always considered Bangbros as friendly people.Why so much hatred against India?Is it on religious grounds?

 

[Sugarcane]

You have your afghani, we have our bangladeshi illegals - they have crept into every corner including far off places like bangalore and kerala..Please let us know how to get rid of them when you devise a method.

Well as per this news it looks like tables are turned and it's Bangladesh who is have problem of Illegal Indians. Maybe aunty hussina is allowing Indian to come in Bangladesh to increase her vote bank. Perhaps that's the reason RAWami league won

 

[SirHatesALot]

Bangbros

its a **** site

 

[Bacon101]

its a **** site

my bad .... didn't realise

and thank you

 

[Sugarcane]

Same old bs being rehashed and propagated again and again. I have debunked this before and am quoting my post again here.

The remittance to India from Bangladesh, the numbers don't add up. If there are 500,000 Indian workers in Bangladesh and they are remitting $3716 Million in a year, thats around $7500 per person per annum remittance. If each Indian labour is sending that kind of money back home, they must be making atleast $10,000 as opposed to $1050 per capita gdp of Bangladesh. Geez I wonder whats so special about these unskilled Indian labourers that they are being paid 10 times more than an average Bangladeshi.

It looks like a lot of Bangladeshi black money is coming to India in the name of "Remittance". I guess the Bangladeshis are taking their money to a "safer" location. Good for us.

An investigation into this by Bangladesh Tax office is definitely required, but as I said it has very little to do with Indians working in Bangladesh and more to do with Bangladeshi black money.

Refer to this thread for more entertainment

Indian expats remit $3,716m from Bangladesh

What if there are 5 million illegal Indians in Bangladesh instead of 500,000?
Or Hassina is doing money laundering to transfer her looted money to India?

You are right it is very difficult to send money abroad through legal channels but the Indians are likely using illegal methods to get their money out. In other words they are also cheating the Bangladesh government

I think the OP is referring to remittances from legal means, you can't calculate remittances from illegal means as transfers are not in govt. or bank records.

 

[Zabaniyah]

I get it now. There must be some border outposts who do business by buying and selling rupee and taka it is also illegal. But dont get it how these illegal indians sending money back home. Last time I tried to send only $100 abroad and didnt find any legal and illegal ways. Other than international master card not possible to send money abroad. @Loki @ExtraOdinary do you know about this?

The entire cattle trade is illegal.

As for remitting money abroad, it is possible. It largely depends on what purpose you are remitting it for. And of-course, you have to do it through an authorized dealer. Some purposes require prior approval from Bangladesh Bank.

You can also purchase foreign currency from money changers which are also a form of authorized dealer.

For foreigners, they are allowed to transfer their genuine savings and salaries clearly stated in their employment contracts. These contracts must be approved by the Board of Investment (BOI) or other relevant government authority. As much as the AD's must satisfy as to the reporting format precribed by Bangladesh Bank, they themselves have to satisfy themselves in regards to their earnings. Only what they earn in Bangladesh can be remitted abroad, simple.

Foreigners can remit 50% of their monthly net income to cover their commitments abroad.

You can refer to Chapter 11 of Guidelines on Foreign Exchange Transactions from Bangladesh Bank for more details.

FYI, Bangladesh Bank is a lot more active than before.

Lots of letters and fines

 

[BanglaBhoot]

What if there are 5 million illegal Indians in Bangladesh instead of 500,000?
Or Hassina is doing money laundering to transfer her looted money to India?


I think the OP is referring to remittances from legal means, you can't calculate remittances from illegal means as transfers are not in govt. or bank records.

In Bangladesh anything is possible. The question is how so many Indians got into Bangladesh and then are able to send their money out of the country. If this is just the legal method then a great deal more is being sent out illegally.

 

[Providence]

Ok ! So if Indians wanted to just funnel out money from Bangladesh, why will they do so by attracting all the spotlight ? What happened to crypto-currencies or some informal method of money transfer ?